Tendencies of Money Transfers

Tendencies of Money Transfers

18 November, 2008
In September and October of the current year the trend for growth of money transfers from foreign countries to Georgia was restored. In October the volume of money transfers from abroad constituted 92.1 million USD, which is 10.9 percent more than the same figure for October 2007.

The volume of money transfers from Russia is also returning to the pre-war dynamics:

(million USD)

 

2008

 

01.2008

02.2008

03.2008

04.2008

05.2008

06.2008

07.2008

08.2008

09.2008

10.2008

Money transfers from Russia

 

36.0

 

38.0

 

50.1

 

51.4

 

48.3

 

53.5

 

63.4

 

45.0

 

54.2

 

56.8

92.6 percent of total money transfers from abroad fall on those big nine donor countries, from which the volume of such transfers exceeds 1 million USD. It is noteworthy that in October of last year share of these 9 countries constituted 88.1 percent of the total volume of money transfers.

 

Volume of money transfers in October, 2008
Million US Dollars

Structure of money transfers by the biggest donor countries %

October, 2007

October, 2008

Total

92.1

100.0

100.0

Russia

56.8

55.6

61.7

Ukraine

7.5

2.0

8.1

USA

6.1

8.1

6.6

Greece

4.3

10.2

4.7

Italy

2.8

3.2

3.0

Turkey

2.0

2.2

2.2

Spain

1.7

4.4

1.8

Cyprus

1.2

1.0

1.3

Kazakhstan

1.1

1.4

1.2

It is notable, that in October of the current year 6.6 million USD were transferred from Georgia, i.e. 13.2 percent less than in October 2007. The volume of money transfers from Georgia to Russia decreased significantly, by 0.9 million USD (25.6 percent), while the volume of money transfers from Georgia to Ukraine increased by 132.0 thousand USD (14.7 percent).

In October the most popular among the fast money transfer systems for sending money to Georgia were: Western Union (23.0 percent of total amount), Anelic (15.9 percent), Contact (15.7 percent), Unistream (14.1 percent), Intel Express (7.3 percent), Money Gram (6.2 percent), Leader (5.6 percent).

For money transfer from Georgia most popular in October were Western Union - 48.6 percent, Intel Express (14.4 percent) and Anelik (14.1 percent). Next come Leader (8.5 percent), Unistream (4.3 percent) and Money Gram (1.5 percent).

Present statistical information is being published on the statistics headlines.